To add some nuance to this thread, keep in mind that the main reason that wealthy students are overrepresented at some elite schools is that they are much more likely than other students to apply to those schools. Forum member Data10 recently cited some data on Harvard admission rates by income. Remarkably, the admission rate was lowest for the wealthiest kids – those who didn’t apply for financial aid:
Harvard Acceptance Rate by Income: Classes of 2009-2016
<$40k income – 11% (would be 6% without admissions preference)
$40-80k income – 11% (would be 8% without admissions preference)
$80-120k income – 9%
$120-160k income – 10%
$160-200k income – 10% (would be 11% without lower SES preference)
$200k+ who filled out FA – 12% (would be 13% without lower SES preference)
Did not fill out FA – 7% (would be 8% without lower SES preference)
The full post is here.
I don’t mean to imply that wealth doesn’t bring lots of advantages in life (including in the college application process) – just that the odds of admission to top schools are long for pretty much everyone.